Financial Statement (137)
What is Financial Statement ?
A Financial Statement is a formal record of assets and liabilities of the entity which includes-
- Balance Sheet;
- Profit and Loss Account;
- Cash Flow Statement;
- Statement of changes in equity, if applicable
Provided that the financial statement, with respect to One Person Company, small company and dormant company, Private Company (if such private company is a start-up) may not include the cash flow statement;
Who need to file ?
Every Company has to file financial statements in e-form AOC-4 to the Registrar which shall be certified by the Practicing Professionals who are CS/CA/CWA.
Reasons for filling ?
To inform the ROC and to public at large about the financial activities of the Company.
The Due date for filing ?
- Adopted Financial Statements shall be filed within 30 days from the date of AGM or Adjourned AGM as the case may be;
- Where the financial statements are not adopted in the AGM or adjourned AGM, then Un-Adopted Financial Statements will be filed to the Registrar within 30 days of the AGM;
If AGM has not been held in any year, then shall file the financials within 30 days of due date of AGM.
What are the consequences ?
| S. No | Particular | Fine (in INR) |
| 1. | The Company shall be liable | One Thousand rupees for every day but which shall not be more than ten lakh |
| 2. | Directors of the Company shall be liable | Minimum One Lakh Maximum Five Lakh or Imprisonment for a term which may extend to six months |
| 3. | Additional filing fees for AOC-4 Period of delay: More than 180 days and up to 270 days | 12 times of normal filing fees |
Note-
The Companies (Registration Offices and Fees) Second Amendment Rules 2018 has been notified dated 7th May 2018. Accordingly, in case the due date of filings under section 137 (Annual Financial Statement) of the Companies Act, 2013 expires after 30/06/2018, the additional fee at the rate of INR 100 per day shall become payable in respect of MGT-7 w.e.f July 1, 2018.